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The Terrifying Dark Years Have Begun And People Need To Protect Themselves From What Is Coming

2767 Views September 04, 2015 GOLD, KWNKing World News

Today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events warned King World News that the terrifying “dark years” are now here and people need to protect themselves from what is coming.Egon von Greyerz: “Eric, we are now in September of 2015 and we are likely to enter a period that will shock the world. I expect to see devastating falls in stock markets worldwide, triggered by unexpected events which could be financial or geopolitical….In Volatile Markets, Is Wealth Preservation King?In a King World News interview I spoke with the man who predicted the Swiss National Bank would experience staggering losses and that the Fed would also experience massive losses that will destabilize the global financial system! His company is the only one in the world offering a precious metals investment service outside the banking system, with direct ownership and full control by the investor. He has also become legendary for his predictions on QE, historic moves in currencies, and major global events. To find out what he and his company can do to help answer that age old question for you CLICK HERE.

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“The Dark Years Are Here”“Eric, the dark years are here and all the bad news is coming out right on queue. Just look at the data. Brazil is in recession and they have a collapsing currency, which is down 50 percent since 2011. Brazil will probably see their debt rating cut to junk.If you look at Korea, industrial production has collapsed by 15 percent in August and they are likely to see the value of their currency erode even further. And in the U.S., an average family can’t even afford to live in the least expensive metropolitan areas. U.S. housing is contracting. China’s PMI is falling and Europe is continuing to deteriorate. And what we are seeing is likely to accelerate in every country in coming months. Canada’s GDP dropped by .5 percent in Q2. In Europe, Draghi has just come out with a revamped QE in order to try to save Europe. Now the ECB is going to buy up to 33 percent of any bonds from the member countries. So up to one-third of the bad debt is going to be bought by the ECB. This has increased from 25 percent because it’s debt that nobody can sell.The Collapse Of The Global EconomyDraghi also aid that the emerging market rout is threatening global expansion. He’s wrong. It’s not threatening global expansion but it will contribute to the collapse of the global economy. And the Bank of Japan is monetizing more than Japan’s budget deficit.Robert Schiller in the United States has just said that the Dow should not be at 16,000, but rather at 11,000. That would mean more than a 30 percent decline for stocks. We are seeing job cuts everywhere. In 2015 there will be 650,000 job cuts, which is the highest since 2009.Central banks are panicking because liquidity is drying up as foreign-exchange reserves are decreasing rapidly. They have already fallen about $600 billion in the past year. The reason for this is the exit of capital and this means global contraction. China used the inflows of forex reserves to massively leverage their system in the past 15 years. Those inflows have come to an end.This will clearly exacerbate and accelerate the worldwide downturn. As the global economy continues its decline, central banks are trapped. We have seen a dramatic increase in global stock market volatility but this is just the beginning. Every day we see the Dow up or down a few hundred points.World Stock Markets To See Massive DeclinesWhat is now clear is that global stock markets are in a primary bear trend, which will last for years. Worldwide stock markets will see massive declines, especially in the next few months. Before this bear market comes to an end, many markets will have lost 90 percent in real terms. In August, many global stock markets fell 20 percent in just one month.Saudi Arabia is in a real mess because of falling oil prices. Saudi Arabia’s current account deficit is falling dramatically and the fiscal deficit is now 20 percent of GDP. The only thing that can save Saudi Arabia from collapse and civil unrest is a much higher oil price.Every time I’ve been to Dubai I’m astonished by the profligacy of this country. Dubai has no oil and it has trading and financial services plus one of the biggest property bubbles in the world. I expect Dubai to totally collapse in the next few years.In Hong Kong, every major building has a shopping mall with mostly empty shops. Two years ago I mentioned this on KWN and now it’s finally imploding because major retailers can’t afford the expensive rents in Hong Kong.

Twin Crack-ups To Implode World Economy & Financial SystemSo, Eric, there are bubbles everywhere but what else would you expect in a bubble world that has spent $200 trillion of borrowed money in the last 100 years. Before this is over we will see a major part of that $200 trillion implode and all the assets linked to it such as stocks, property and bonds, will also implode. As all these assets worldwide collapse, governments will print may times the $200 trillion figure as hyperinflation runs out of control and the $1.5 quadrillion derivatives market implodes.People Should Protect Themselves From What Is ComingEric, welcome to a world where money printing will be running into the quadrillions of dollars. There will be much more to think about besides wealth preservation in such a scenario. But for people with assets to protect, physical gold is going to be one of the few ways to avoid total wealth destruction and to maintain purchasing power.Due to the social unrest we will see worldwide, it’s absolutely critical to store the gold in the safest vaults in the world. Eric, people should be really worried about the state of the world and take whatever action they can to protect themselves from what is coming.”